XRP Whales Flock Off Binance, Eyes on $2 Target

XRP's recent price surge has been fueled by large holder activity, as whales have withdrawn over $335 million from Binance in the past few days. According to CryptoQuant analyst Darkfost, more than 231 million XRP tokens were moved off the exchange, valued at around $1.40 each.

This significant withdrawal marks a sharp increase in large holder activity, with whale outflows averaging roughly $40 million over the past 90 days. The sudden spike in withdrawals suggests that XRP whales are moving their tokens to private wallets, potentially tightening the supply of XRP available for trading.

Darkfost believes that this wave of accumulation may have contributed to XRP's recent upsurge, which has seen its market cap top $91 billion and its price surge by 45% in the past week. If whales continue to stack the token at this pace, Darkfost sees a potential move toward the coveted $2 mark.